Tagged: banking

July 9, 2020 @ 4:22 pm By JD Alois  |  

SoFi, one of the most successful Fintechs in the US, has filed for a national bank charter with the Office of the Comptroller of the Currency, according to a report. Launched as a student loan financing platform, over time SoFi has been adding a broader… Read More

July 9, 2020 @ 12:50 pm By JD Alois  |  

Upgrade is a consumer online lender and emerging digital bank that recently announced a significant funding round that gave the Fintech a $1 billion valuation. Founded by Renaud Laplanche, this is the second Fintech he has founded that moved into the unicorn realm the first… Read More

July 8, 2020 @ 11:25 am By JD Alois  |  

Transferwise, a UK based global payments and transfer platform that has emerged as a leading stealth bank, will see its valuation hit $5 billion in a funding round that is said to be nearing completion. According to a report in SkyNews, Transferwise is set to… Read More

July 7, 2020 @ 10:12 am By Samantha Hurst  |  

India-based banking group ICICI Bank announced it has crossed a milestone of one million users on its WhatsApp banking platform. The bank reported it introduced banking services on WhatsApp three months ago to enable its retail customers to undertake a slew of banking requirements from… Read More

July 5, 2020 @ 8:00 pm By JD Alois  |  

Hong Kong as jurisdiction was slow out of the gate when it came to Fintech innovation. But this initial hesitancy was soon made up by a dedicated public-private partnership determined to establish Hong Kong as a top Fintech hub – a successful move. InvestHK, a… Read More

July 1, 2020 @ 5:38 pm By Vincent Bezemar  |  

Rewind the clock 35 years ago today and cinemas were opening for the first time to the iconic time-traveling antics of Back to the Future. Looking at Doc and Marty and knowing their contrasting personalities – one an eccentric inventor and one a streetwise kid… Read More

July 1, 2020 @ 7:19 am By Omar Faridi  |  

Paris-based Société Générale S.A., a French multinational investment bank and financial services company with around €1.3 trillion in assets, is reportedly acquiring Shine, a French neobank for business owners. The acquisition might be worth approximately €100 million, according to estimates from industry participants. Established about… Read More

June 29, 2020 @ 8:04 am By JD Alois  |  

FinecoBank (BI:FBK), an online trading and banking platform,  has added a suite of funds from Aberdeen Standard Investments (ASI). The company states that with the new funds from ASI, Fineco clients in the UK now have access to a new set of funds. ASI is… Read More

June 26, 2020 @ 8:17 am By Samantha Hurst  |  

Germany-based banking platform SolarisBank announced on Thursday it has formed a partnership with American Express for a new installment product, “Splitpay.” SolarisBank reported that for the first time, members of a personal American Express Card in Germany will be able to use an installment option… Read More

June 23, 2020 @ 3:45 pm By JD Alois  |  

nCino is preparing for an initial public offering (IPO) as the company has filed an S-1 with the Securities and Exchange Commission (SEC) indicating its intent to trade shares on an exchange. nCino is a Wilmington, North Carolina based Fintech that offers a cloud banking… Read More

June 18, 2020 @ 9:57 pm By JD Alois  |  

Prepara is the next aspiring digital bank to throw their hat in the Fintech ring. Not yet a regulated bank or authorized deposit-taking institution, Parpera is in the process of securing the necessary licences it requires for its products and services in Australia. In advance… Read More

June 18, 2020 @ 3:02 pm By JD Alois  |  

Current, a digital only challenger bank, reports that users have topped one million members with both April and May generating the most accounts. During the height of the Coronavirus lockdown, Current saw more than 100,000 new accounts created each month as demand rose for consumer-friendly… Read More

June 18, 2020 @ 11:28 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced that 14 out of 21 applications to become digital banks have met the eligibility criteria for the Fintechs to be considered. MAS announced on June 28, 2019, that it would issue up to two digital full bank… Read More

June 17, 2020 @ 11:07 am By JD Alois  |  

Top digital bank Monzo has raised £60 million in new funding at a significant decline in valuation reportedly a 40% haircut. A second tranche of funding may be forthcoming later this year. It was reported last month that Monzo was seeking up to £100 million… Read More

June 16, 2020 @ 1:50 pm By JD Alois  |  

Earlier this month, Crowdfund Insider reported on Varo Money closing on a huge $241 million Series D funding round. Varo Money is a top US-based digital-only bank seeking to challenge entrenched traditional banks while battling other Fintechs. In the realm of Fintech, digital banking is… Read More

June 16, 2020 @ 10:20 am By JD Alois  |  

Illimity, the first digital bank in Italy, is now offering a “illimity Hubs,” described as an innovative collaboration model in line with open banking and an open platform approach. lllimity is a banking start-up specializing in loans to SMEs. Illimity provides a digital direct banking… Read More

June 15, 2020 @ 7:18 am By JD Alois  |  

UK based digital bank Starling Bank has added three new integrations to its Marketplace: Slack, the workplace messaging platform, Bionic, the energy switching service, and Equipsme, a health insurance provider, according to a company release. Starling Bank has taken the approach of providing many forward-thinking… Read More

June 14, 2020 @ 9:33 pm By JD Alois  |  

One of the first moves the Acting Comptroller of the Currency Brian P. Brooks took upon assuming the leadership role at the Office of the Comptroller of the Currency was to further clarify his agency’s view on the Madden v. Midland case. The legal dust-up… Read More

June 6, 2020 @ 2:48 pm By Will Hurst  |  

    The financial services competitive landscape has evolved in recent years and it’s clear that fintechs have certainly disrupted traditional banks. Fintechs include any financial tech company that serves any of the following areas; lending, blockchain, Regtech, personal finance, payments and billing, insurance, capital… Read More

June 4, 2020 @ 6:44 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) has issued an advance notice of proposed rulemaking (ANPR) inviting public comment on its regulations regarding digital banking activities. The OCC is part of the US Department of Treasury and is the main banking regulator in… Read More